WINNIPEG: ICE Canadian canola futures rose on Friday for the eighth time in nine sessions, as export and crusher demand pushed the oilseed to a fresh seven-year high. Crush margins are "through the roof," a trader said, and added that canola looks relatively cheap to other oilseeds, adding further upside.
January canola gained $4.20 to $576.50 per tonne. January-March canola spread traded 4,924 times. US soyabean futures rose for a sixth consecutive session and hit a four-year high on dry conditions in key South American crop areas and concerns about dwindling US supplies. Euronext February rapeseed futures edged higher and Malaysian February palm oil futures dropped.
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